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Internship Report On “Fixed Asset Management & Discloser in Financial Statements”
Of BRAC BANK LIMITED
(BUS 400)
Submitted By: Md. Al-Mamun
ID # 07304050
BBS Dept., BRAC University
Submitted To: Syeda Shaharbanu Shahbazi [Lecturer] BRAC University Page | 1
Syeda Shaharbanu Shahbazi Lecturer BRAC University
Sub: Submission of the Internship Report
Dear Madam I am delighted to submit my internship report on “Fixed Asset Management & Discloser in Financial Statement” Of BRAC Bank Limited as a requirement for my graduation. You are aware that I completed my internship program in BRAC Bank Limited (BBL) from 1st November to 31st january. I joined BBL, which is the head office of BRAC Bank and the name of my sub unit is “Asset Management” which is in the unit of “Asset Management and Payment Settlement” at finance division. I truly believe that this report will satisfy your requirements and expectations as I tried my level best to make this report informative, practical, reliable and relevant as possible. To prepare this report I have reviewed some books, journals and download information from internet, take interviews and on the basis of available information I have depicted a set of recommendations which I think will help “asset management team” to improve their competence. I have attained some unique opportunities to go through some fruitful job experiences. Those experiences enabled me to bridge the gap between classroom learning and real life situation to a great extent.
I appreciate your kind advice, cooperation, patience and suggestions regarding this report which will definitely help me to go ahead as a brilliant guideline. I will be available for any further query and clarification regarding this report whenever necessary.
Sincerely Yours, Md. Al-Mamun ID-07304050 Dept- BBS BRAC University
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Acknowledgement:
I am grateful to many individuals for completing my internship report successfully. First of all, I would like to thank the School of Business of BRAC University and BRAC Bank Limited (BBL) for giving the opportunity of having an Internship program and allow me to submit my report based on the “Fixed Asset Management & Disclosure in Financial Statements” of BRAC Bank Limited (BBL). I have gathered an enormous deal of experience while going through the internship period and preparation of this report.
I would like to thank to my Internship Supervisor of BRAC University, Mrs. Syeda Shaharbanu Shahbazi for her excellent guidance and support during the preparation of the report. A special thanks goes to my Internship Organization Supervisor in BRAC Bank Limited (BBL), Mrs. Puspita Bordon for providing me support and courage throughout my Internship program and helping me to accumulate necessary information. I would also like to show my gratitude to Mr. Abdullah Al Mamun (Milion), Mr. Mohammad Al Mamun, from “ Asset Management” Department for helping me by giving the valuable information and on behalf of their company they provided time to make me the understand the procedures of their department. I am also grateful to Mr. Md. Rakib-ul Islam, Associate Manager of procurement department who helps me a lot by providing necessary information.
Finally, my heartiest thanks go to others who were involved and helped directly and indirectly to prepare this report. Without them all these wouldn‟t have been made possible.
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Executive Summary:
BRAC Bank Limited (BBL), which is one of the fast growing private commercial bank, inaugurated its banking operations at 4th July 2001 in Bangladesh. Within a very short time BBL became one of the successful and fastest growing private banks in Bangladesh. The Bank operates under a "Triple-Bottom-Line" approach, where profit and social responsibility march together as it strives to achieve a poverty-free and enlightened Bangladesh. The primary objective of BRAC Bank Limited is to provide all kinds of banking services, while being the market leader in the Small and Medium Enterprises (SME) business. The bank is strongly supported by modern IT equipments as well as technology and updating it with the changes in modern banking sector. The management of the Bank believes that this sector of the economy can contribute the most to the rapid generation of employment in Bangladesh. Since inception in July 2001, the Bank's footprint has grown to 100 branches, 60 SME service centers, 3 SME / Krishi branches, 424 SME unit offices and more than 300 ATM sites across the country. Being the youngest bank took a step to break away from usual tradition and tapped into the true community entrepreneurial initiatives by disbursing over BDT 14,500 Crores in loans to more than 320,000 small and medium entrepreneurs.
In internship repot, I have discussed about the sources and utilization of funds with the help of figure as well as the corporate vision, mission, values, goals and objectives of BRAC Bank Limited. I have also discoursed a little about the meanings of the logo as well as the slogan of BBL and tried my level best to identify the achievements from the inception of the bank. After that, I have described about all the products and services that the bank offers to the customers. A brief overview and description of the processes have been included with charts and diagrams. A short description about the management as well as the department of the bank is also given in the organization part. In the job part I have discussed about the nature of the job and the specific responsibilities that I had to do throughout the internship period in BBL. I have also tried to figure out what are the criteria‟s that the bank is looking for to become an enlisted supplier or vendor of the bank. A brief understanding of how BRAC Bank Limited is going to manage its fixed assets and what are the objectives as well as the benefits associated with the management of those fixed assets.
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I have also discussed about the auction policies as well as the responsibilities of the auction committee of BBL. I have also tried to figure out whether BRAC Bank Limited is following the “ISA 16 Property, Plant and Equipments” and how this mechanism works within the Bank.
Finally I have made a SWOT analysis of BRAC Bank Limited and figure out some of the finding regarding the performance of BBL. Meanwhile I have included my suggestions and recommendations in order to eradicate the weaknesses of their department. Finally I have ended my report through including references and sources that I have used to make this report.
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Table of Contents
Topic Name Page no.
Chapter One: Introduction
Introduction ------01 Origin of the Report ------02 Objective of the Study ------03 Scope of the Study ------04 Methodology ------03 Sources of Information ------04 Limitation ------04
Chapter Two: Company Overview
Overview of BBL ------06-08 Background of the BBL ------08-09 Sources of Utilization of Funds ------09-10 Corporate Vision & Mission of BBL ------10-11 Values, Goals & Objectives of BBL ------11-12 Logo Meanings & Slogan of BBL ------12-13 Achievements of BBL ------13-14 Products & Services of BBL ------14-17 Management & Department of BBL ------17-18
Chapter Three: Job Part
Nature of the Job ------20-21 Specific Responsibilities of the Job ------21-23
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Chapter Four: Project Part
Meaning & Nature of Capital/ Fixed Asset ------25-26 Objectives of Fixed Asset in BBL ------27-28 Benefits of Fixed Asset Management in BBL ------28-29 Vendor Enlistment Criteria of BBL ------31 Process of Fixed Asset Management in BBL ------31-33 Definition, Objectives & Types of Auction policy ------33- 34 Approval & Responsibilities of Auction Committee ------34- 35 Basis of Accounting ------35- 38 SWOT Analysis of BB ------38- 42 Findings from the Project ------43- 44 Recommendations ------44-45 Conclusion ------45 Bibliography ------46 Appendix Part ------47- 62
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Origin of the report:
This report is an “Internship Report” prepared as a requirement for the conclusion of the BBA program. As per requirement of BBA program of BRAC Business School, after completing 126 credits a student has to complete a 12 weeks internship program. The primary goal of internship is to provide an on the job exposure to the students and an opportunity for translation of theoretical conceptions in real life situation. Students are placed in enterprises, organizations, research institutions as well as development projects. Thus this report has been prepared after completion of 12 weeks of organizational attachment in BRAC Bank Ltd (BBL). BRAC Bank is one of the leading private commercial bank of Bangladesh. To maintain its leading position in Bangladesh, BRAC Bank is always keen to develop long-term beneficial and trustworthy relationship with clients. At the same time, they have always upgraded their approaches to achieve profitability. After the completion of BBA program I was placed in BBL for the internship program under the guidance of my faculty advisor Mrs. Syeda Shaharbanu Shahbazi. For successful finishing of my BBA program, I needed to submit this report, which would include an overview of the organization I was attached with and elaboration of the project I was supposed to conduct during the internship period.
During my internship period, I had an opportunity to visit most of the branches of Barisal, Khulna, Comilla, Rajshahi, Sylhet, Chittagong, Dhaka division for asset tagging purposes. BBL provides me an IT specialist person as well as a list of all the fixed assets that were sent to all those branches from the head office. At first, I had to match the fixed asset with the list of the fixed asset that was provided by the head office and if the fixed asset matched then I affixed a barcode on that fixed asset of the BRAC Bank Limited (BBL). The main purpose of affixing barcode is to identify the asset and match with the register book, so that BBL can work out the accurate financial picture in the Profit & Loss account as well as in the Balance Sheet.
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Objective This following report has two types of objectives which are described as follows.
Primary objective: The main objective of this report is to identify how BRAC Bank Limited (BBL) is managing its fixed assets & disclose it in the financial statements.
Secondary Objective:
Getting familiar with the environment of a fast growing private financial institution of Bangladesh that is BRAC Bank Limited (BBL).
Identify the major strengths, weaknesses, opportunities and threats of the BRAC Bank Limited (BBL). To know about the overall banking functions. To know about the management style and organizational structure of BRAC Bank Limited (BBL).
Identify how BRAC Bank Limited (BBL) is going to transfer it‟s assets from one place to another.
To suggest necessary measures for the development of BRAC Bank Limited (BBL)
Getting familiar with the auction policy for selling unused/ waste/ non-repairable assets in BBL.
Methodology: In the organization part, most of the information has been collected from different published articles, journals, brochures, web sites and personnel of BRAC Bank Limited. All the information incorporated in this report has been collected both from the primary sources and as well as from the secondary sources.
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Primary Source of Information:
Observation during the total internship period.
Involvement with the operational process of fixed asset management.
Discussion with officials of BRAC Bank Limited (BBL).
Secondary Sources of Data: Relevant BRAC Bank Limited (BBL) paper and published documents
Bank‟s other published information
Directory of operating instructions (DOI)
“Annual Report 2010” of BRAC Bank Limited (BBL)
Internet
Scope of the report:
The scope of this report is limited to the overall descriptions regarding the management of “Fixed Asset and its Discloser in Financial Statements” at BRAC Bank Limited (BBL).
Limitations: On the way of preparing of this report, I have faced following problems that may be termed as the limitation of the study.
Internal and financial information of the bank is confidential & critical. The findings are not statistically validated. Limitation of time was one of the most important factors that shortened the present study. Rush hours and business was another reason that acts as an obstacle while gathering data.
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Overview of BRAC Bank Limited (BBL): BRAC Bank Limited (BBL) which is one of the fast growing private commercial bank inaugurated its banking operations at 4th July 2001 in Bangladesh. Since then it has established its name and branding with its quality of services and products. In a very short time BRAC Bank Limited became one of the successful and fastest growing private banks in Bangladesh. The Bank operates under a "Triple-Bottom-Line" approach where profit and social responsibility march together as it strives to achieve a poverty-free and enlightened Bangladesh. The bank also continuously works to uphold the “Three P” agenda that means Planet, People and Profit as a part of sustainable and glorious banking journey.
The primary objective of BRAC Bank Limited is to provide all kinds of banking services while being the market leader in the Small and Medium Enterprises (SME) business. The bank with institutional shareholdings by BRAC, International Finance Corporation (IFC) and Shore Cap International has been the fastest growing bank in 2004 and 2005. A fully operational Commercial Bank, BBL focuses on pursuing unexplored market niches in the Small and Medium Enterprise Business, which hitherto has remained largely untapped within the country. The following tables give the “Company Chronicle” and “Shareholding Structure” of BRAC Bank Limited.
Date of Incorporation 20th May , 1999
Date of commencement of business 20th July, 2001
Authorized Capital BDT 1,000 million
Paid-up-capital BDT 500 million
Address: House No-B/115, Block-B, Road-5 Shooting Club, Gulshan-1, Dhaka-1212 Web:www.bracbank.com
Table -1: BBL profile at a glance
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BRAC Bank, being the youngest bank took a step to break away from usual tradition and tapped into the true community entrepreneurial initiatives. The bank established its first SME Unit Office at 1st January 2002 and from then the bank has disbursed over BDT 14,500 Crores in loans to more than 320,000 small and medium entrepreneurs. The management of the Bank believes that this sector of the economy can contribute the most to the rapid generation of employment in Bangladesh. Since inception in July 2001, the Bank's footprint has grown to 100 branches, 60 SME service centers, 3 SME / Krishi branches, 424 SME unit offices and more than 300 ATM sites across the country. The corporate chronicle and information are described as follows:
Corporate Chronicle and information
Registered office at1, Gulshan Avenue, Gulshan- 1 in Dhaka-1212 Company registered number: C – 37782(2082) of 1999 Inauguration of Banking Operations at 4th July in 2001
First SME unit office at 1st January in 2002
Signing with Shore Cap as Investor at 29th December in 2003
Signing with IFC as investor at 8th May in 2004
First ATM Installed at 3rd April in2005
Commencement of Share Trading in DSE & CSE at 31st January in2007
Launching Credit Card at 6th February in 2007
Introduced Probashi Banking at 14th April in 2007
Launched Off-shore Banking at 21st June in2010
Co- branded ATM Booth Launching with Rupali Bank Limited at 25th September in 2010
Launching of Planet Card at 23rd October 2010
2500 remittance deliver point
E-commerce Launching for Online Shopping Facilities at 8th December 2010
Table -2: Company Chronicle
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BRAC Bank Ltd. signed an assistance contract with Infosys and 3i Infotech for changing bank‟s IT platform at 1st august 2006 and from then BRAC Bank running countrywide true online banking system. The system allows their customers to do transaction all over the country and be the strongest IT support commercial bank in Bangladesh. The bank cheques are all marked with Barcodes that makes each cheque unique and disallows it to be duplicated. All the signature and customer information with their pictures can be verified from any console at any branches of the bank. BRAC Bank has its own data center in Gulshan-1 from where all the networking and data storing activities were done by the professional IT team members. The bank also has its own digester recovery center in Mirpur -11. If all the server of the data center will remain down then all the banking system is recovered by the back up power of the digester recovery center. The most important thing is that the bank is updating its online banking operations by using the modern update IT instruments as well as technology. The bank introduced “24x7 Phone Banking” operations at 9th September 2006.
Background of the BRAC Bank Limited: BRAC Bank Limited as private commercial bank is established in Bangladesh under the Banking Companies Act, 1991 and incorporated as private limited company on 20 May 1999 under the Companies Act, 1994. The primary objective of the Bank is to provide all kinds of banking business. At the very beginning the Bank faced some legal obligation because the High Court of Bangladesh suspended activity of the Bank and it could fail to start its operations till 03 June 2001. Eventually, the judgment of the High Court was set aside and dismissed by the Appellate Division of the Supreme Court on 04 June 2001 and the Bank has started its operations from July 04, 2001 and. The bank has tied up with Money in Motion LLC, an US based company focused on mobile financial services with an objective to provide financial services via mobile phones to the unbanked poor people of Bangladesh. This unique innovative idea was branded as bKash, a subsidiary of BRAC Bank, where MiM USA is a shareholder. The bank also introduced ELDORADO, a web-based real-time electronic remittance system, a substitute of Demand Draft, Telegraphic Transfer, and Mail Transfer. BRAC Bank Limited was established by Sir Fazle Hasan Abed and the Chairman of the Bank is Mr. Muhammad A. (Rumee) Ali.
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Shareholdering Position BRAC
Institutions & General Public
International Finance Corporation Mutual Funds
Shore Cap Internation Ltd.
Non Resident Bangladeshis
Others
Figure1: Shareholders of BRAC Bank Limited
The Managing Director of the bank is Mr. Syed Mahbubur Rahman. The bank has made a reasonable progress due to its visionary management people and its appropriate policy and implementation. The bank‟s initial public offering of shares held in 2006 and enlisted with Chittagong Stock Exchange (CSE) at 24th January as well as with Dhaka Stock Exchange (DSE) at 28th January in 2007.
Sources & Utilization of Funds:
The main source of fund is customer deposits, which is composed of 74% of the total fund. The bank‟s major funds are utilized in loans, advances and investments, comprising around 71% and 11% respectively of total funds available to the bank. A portion of fund is maintained in the form of cash and cash equivalents to keep as CRR (Cash Reserve Ratio) and SLR (Statutory Liquidity Ratio), which is currently required to be 19% of total deposits of the bank.
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Sources & Utilization of Funds Cash & Cash equivalents
Investment
Loan & Advance
Fixed Assets
Others
Figure 2: Sources & Utilization of Funds
Corporate Vision: Building a profitable and socially responsible financial institution focused on Markets and Business with growth potential, thereby assisting BRAC and stakeholders build a "just, enlightened, healthy, democratic and poverty free Bangladesh".
Corporate Mission: BRAC Bank will be a unique organization in Bangladesh. It will be a knowledge-based organization where the BRAC Bank professionals will learn continuously from their customers and colleagues worldwide to add value. The corporate missions of the BRAC Bank Limited are:
Sustained growth in 'Small & Medium Enterprise' sector Continuous low-cost deposit growth with controlled growth in retained assets Corporate Assets to be funded through self-liability mobilization. Growth in assets through syndications and investment in faster growing sectors Continuous endeavor to increase non-funded income Keep our debt charges at 2% to maintain a steady profitable growth Achieve efficient synergies between the Bank's branches, SME unit offices and BRAC field offices for delivery of Remittance and Bank's other products and services
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Manage various lines of business in a fully controlled environment with no compromise on service quality Keep a diverse, far flung team fully motivated and driven towards materializing the bank's vision into reality
Corporate Values: The Bank‟s Strength emanates from its owner - BRAC. This means, it will hold the following values and will be guided by them as it does its jobs.
Value the fact that it is a member of the BRAC family Creating an honest, open and enabling environment Have a strong customer focus and build relationships based on integrity, superior service and mutual benefit Strive for profit & sound growth Work as a team to serve the best interest of our owners Relentless in pursuit of business innovation and improvement Value and respect people and make decisions based on merit Base recognition and reward on performance To be responsible, trustworthy and law-abiding in all that they do
Goals:
BRAC Bank will be the absolute market leader in the number of loans given to small and medium sized enterprises through out Bangladesh. It will be a world-class organization in terms of service quality and establishing relationships that help its customers to develop and grow successfully. It will be the Bank of choice both for its employees and its customers, the model bank in this part of the world.
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Objectives of the Bank:
The objectives of BRAC Bank Limited are specific and targeted to its vision and to position itself in the mindset of the people as a bank with difference. The objective of BRAC Bank Limited is as follows:
Building a strong customer focus and relationship based on integrity, superior service. To creating an honest, open and enabling environment. To strive for profit & sound growth. To value the fact that they are the members of the BRAC family – committed to the creation of employment opportunities across Bangladesh. To relentless in pursuit of business innovation and improvement. To mobilize the savings and channeling it out as loan or advance as the company approve. To establish, maintain, carry on, transact and undertake all kinds of investment and financial business including underwriting, managing and distributing the issue of stocks, debentures, and other securities. To finance the international trade both in import and export. To develop the standard of living of the limited income group by providing Consumer Credit. To finance the industry, trade and commerce in both the conventional way and by offering customer friendly credit service. To encourage the new entrepreneurs for investment and thus to develop the country‟s industry sector and contribute to the economic development.
LOGO Meanings: The logo of BRAC Bank has been prepared keeping in mind the goal of the organization. The square structure of the logo means solid and strong.
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The Golden Color in the lower portion of the logo means the „Golden Bangladesh & her fertile land‟. The Blue color in the upper portion means „the sky with enormous & unlimited opportunity‟. The white colored curve means „Growth and Progress‟. White circles in the blue color mean the flashing sun that gives light to everywhere.
Company Slogan:
BRAC Bank Limited Company‟s slogan is “Aastha Obichol”. It promises trustworthiness as well as being the “Dependable Friend in Banking” will hold true for years to come.
Achievements:
BRAC Bank has been awarded as the “FT Sustainable Banking Awards 2010” by Financial Times newspaper & IFC (International Finance Corporation) for sustainable Bank of the Year 2010 in London.
BRAC Bank received the prestigious Business Award styled DHL-Daily Star Bangladesh Business Awards 2008 as „Best Financial Institution of the Year‟ for its innovation in products, services, financial performance, company management and contribution to Bangladesh‟s development.
BRAC Bank Limited has received the prestigious award for being the highest VAT paying organization in the year 2007-2008 of national level in service industry.
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BRAC Bank Limited has been awarded ICAB National Award from Institute of Chartered Accountants of Bangladesh (ICAB) for one of the Best Published Accounts & Reports 2007 recently. Fastest growing bank in the country for the last two years Leader in SME financing through 350 offices Biggest suit of personal banking & SME products Large ATMs (Automated Teller Machine) & POS (Point of Sales) network
Products and Services a) SME Banking BRAC Bank, being the youngest bank, took a step to break away from usual tradition and tapped into the true suburb entrepreneurial initiatives. Today, with over 14,500 crores of loans disbursed till date, BRAC Bank is country's largest SME financier that has made more than 320,000 dreams come true. If you have a dream on which you trust, let us make it true together.
Loan products Deposit Products
Anonno Rin Prapti Current Account
Apurbo Rin Prachurjo Fixed Deposit
Prothoma Rin
Durjoy
Shomriddhi Rin
Shompod Rin
Shokti Rin
Table 3: SME Banking
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b) Retail Banking: BBL has almost 151 outlets and 300 ATMs all over Bangladesh. The bank also offers a wide range of financial solution to meet its client‟s everyday needs. In retail banking operation the bank has a slogan that “Be it home loan, car loan or simply a quick loan-simply drop an application and we shall do the rest while you enjoy life”.
Deposit Products Loan Products Cards Savings Account: Credit Cards: Triple Benefit Savings Account Platinum Card Salary Loan Savings Classic Account VISA Classic Quick Loan Aporajita Acount VISA Gold Auto Loan Future Star Account Dual Universal Card Home Loan Current Accounts: Secured Co-branded ATM Card: Current Classic Account Loan/Overdraft ICDDR, B Current Plus Fast Rewards Programs: EZee Account Fast Rewards Programs Salary Account Partners outlet with logo Campus Account
PayFlex Program: Term Deposits: PayFlex Program DPS Fixed Deposit Flexi DPS
Interest First Fixed Deposit Freedom Fixed Deposit (FFD) Abiram Fixed Deposit
Table 4: Retail Banking
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c) Wholesale Banking BRAC Bank offers a full array of Financial Services to Corporations and Institutions. Having access to the deepest end of the country, BRAC Bank is there to assist businesses in Bangladesh. With us on your side, you have the power of local knowledge with the capabilities of global standard
Corporate Banking Cash Management Custodial Service
Corporate Loan Products: Overdraft Short Term Loan Cash & Trade Overview Probashi Biniyog Lease Finance Liability Products
Loan against Trust Receipt Securities Services Work Order Finance Emerging Business Syndication Term Loan Project Finance Bill Purchase Bank Guarantees
Trade Finance: Letter of Credit (LC) Letter of Guarantee (LG)
Table 5: Wholesale Banking
d) Probashi Banking:
Every month, Probashi Banking executes around 150,000 transactions, which has made BRAC Bank one of the largest players among private commercial banks in channelizing inward remittance in the Bangladesh. With the help of ELDORADO, now anyone can withdraw money from any of the Eldorado member banks in addition to BRAC Bank outlets.
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Accounts & Deposits Investments Remittance
Probashi Current Account Probashi Wage Earners‟ Western Union Probashi Savings Account Bond Money Transfer Probashi Fixed Deposit US Dollar Premium & Exchange Houses Probashi Abiram Investment Bond
Probashi DPS Probashi Biniyog
Table 6: Probashi Banking
e) E-Banking: BRAC Bank Limited offers its clients a wide range of financial solutions with 151 outlets, over 300 ATMs and over 500,000 plastics in the market, to meet their everyday needs.
Internet Banking Phone Banking
E-Commerce
Important Security SME Banking Messages
Graf 1: E-Banking
Management of BRAC Bank Limited: Muhammad A. (Rumee) Ali joined the Board of BRAC Bank in 2007 and was elected the Chairman in 2008, taking over from the Funder Chairman Sir Fazle Hasan Abed. Boards of directors are the sole authority to take decision about the affairs of the business. Now there are 7 directors in the management of the bank. All the directors have good academic background and have huge experience in banking sector. The board of directors holds meetings on a regular
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basis. The management hierarchy of the BRAC Bank Limited is given in the appendix part 1. The director names of the bank are as follows:
Mr. Muhammad A.
(Rumee) Ali Chairman
Syed Mahbubur Quazi Mohammad Rahman (Managing Shariful Ala Director & CEO)
Nihad Kabir (Nember Tamara Hasan Abed
of the Audit (Director) Committee)
Dr. Hafiz G. A. Shib Narayan Kairy (Chairman of the Siddiqi (Depositor
Board Audit Director) Committee) Graf 2: Directors Name
Departments of BRAC Bank Limited: If the jobs are not organized considering their interrelationship and are not allocated in a particular department it would be very difficult to control the system effectively. If the departmentalization is not fitted for the particular works there would be haphazard situation and the performance of a particular department would not be measured. BRAC Bank Limited has does this work very well from the very beginning. The lists of the Departments are giving in the appendix part 2.
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Chapter - 03
Job Part
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Nature of the Job: BRAC Bank Limited (BBL), the leading private commercial bank has organized different projects on a regular basis and the project named “Fixed Asset Management” is one of them. Being the sub unit of finance division „Asset Management Team‟ of BBL has proposed a project in the name of “Fixed Asset Management” to the management committee and after getting the approval as well as the budgetary cost allocation for the project they go for recruiting. The approval note for the project is given in the Appendix part. Usually they recruit intern from different universities to do the project work. Being a private commercial bank, BRAC Bank Limited started to tag its fixed assets from the year 2008, so that it can identify all the fixed assets into location wise category. At that time, the BBL maintained a manual asset registered book to reconcile the assets, which was very much complicated and had possibilities to do errors. During that time, the bank used a piece of paper on which they write down the code name as well as the number of the fixed asset and affixing it on the assets. As a result there were possibilities to affix same code on many assets as the code generation technique was manual.
Later in the year 2010, the bank introduced Enterprise Resource Planning (ERP) software named IFS and by using that software the Bank maintains an asset register book to reconcile the assets in an effective and efficient way. For Identifying the location without difficulties BRAC Bank Limited uses different SOL Number for each and individual location, such as the bank uses SOL NO. “OOOO” for the Head Office. Now anyone can easily identify how many fixed assets are visible in a particular Branch, AB (Alternative Banking) Center, ATM (Automatic Teller Machine) Booth, Apon Shomoy, ROC (Regional Operation Center) and CRM (Credit Risk Management) by putting the SOL NO. in the IFS. One can also easily know the purchase date as well as written down value of any particular asset by tracing the barcode number of that asset. By putting the barcode number in the asset register book at IFS software it is possible to identify the purchase date as well as the written down automatically. Earlier the barcode that are affixing on the fixed asset is purchased from the third party but now BBL has its own barcode printer to print the barcode. I along with two interns had to go for official tour in around 135 locations of Bangladesh for the asset tagging and collecting information regarding the assets. Fixed asset tagging process of BRAC Bank Limited is described in the followings:
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Branch/ Head Office/SME Unit Office/ ATM
Collect Asset List Using IFS & Compile it
Print the Fixed Asset Code Using IFS
Visit Particular Location & Tagged each individual Asset
Collect Untagged List of Asset Information
Split/ Move Asset in IFS & prepare Tag for this asset
Provide the Tag in Concern Location through Courier Service
Graf 3: Tagging process
Mainly the job I along with two had to do is affixing the barcode tag on the fixed asset after matching the fixed asset with the asset list and collect the serial number as well as the model of the IT equipments such as Monitor, CPU, Laptop, AC, Money counting machine, UPS, Printer, Scanner, Fax machine, ATM machine, Online UPS, Generator etc. BRAC Bank Limited provides a unique pin number to each and every employees of the bank. In case of Monitor, CPU, Laptop, UPS we had to collect the user pin number of the employees who were using that IT equipments.
Specific Responsibilities of the Job: Compare to the other local commercial bank, BRAC Bank Limited (BBL) is the only private commercial bank where a lot of employees are working to fulfill the organization‟s goal as the
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bank treated its employees as asset rather than burden for the organization. The bank recruited inters to fulfill a number of objectives and several specific responsibilities of the job‟s are:
1. Identification of untagged fixed assets of the bank: BRAC Bank Limited started to tag its fixed assets manually from the year 2008, so that the bank can identify the location wise fixed assets. Later, when the Enterprise Resource Planning (ERP) software introduced within the bank, then all the work turn into automated and error free. Initially, we collect the list of the fixed asset by putting the SOL NO. in the IFS software. Then print the tag of those fixed assets using the barcode printer. Whenever we used to visit the location we had to take the list of the fixed asset as well as the tag of that particular location with us. First I had to identify the untagged fixed assets, then affixing a barcode on each of the individual fixed assets after matching the asset with the description of list of fixed asset.
2. Identification of location wise fixed assets: I along with two interns had to visit almost 135 locations in Dhaka, Chittagong, Rajshahi, Rangpur, Barisal, Sylhet, Jessore, Comilla and Khulna divisions. On each location outside Dhaka there is an IT specialist person who guidelines us. The main objective of this project is to identify the fixed assets based on the location of the fixed asset. For instance whenever we had to visit a branch fist we had to make sure that the fixed asset list as well as the tag of those assets is with us, without those things we cannot identify the fixed asset on a location wise basis. A sample of the sheets that we used to collect information is given as followings:
Object ID Description Brand Model Serial No. Pin No Base value
ACR0001223 AC 2.5 ton, General General 2.5 ton 37678 15,000
ACR0001224 AC 2.5 ton, General General 2.5 ton 23245 15,000
PCD0004501 Acer desktop Acer Monitor- CNC3432 3224 48,000 computer CPU-SGH47474GJ
UPS0002300 UPS, Socomec Socomec DT651 2N767776 3224 4,000
UPS0003001 Online UPS Ablerex MS200 MAX662368 120,000
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We had to collect the brand, model, product serial number and the user pin number of the assets. The detail information about the location that we have visited is given in the end of appendix.
3. Affixing barcode on all the fixed assets: Barcode is a tag on which the asset‟s number is written with the specific the description as well as the particular location of the assets. Beside this, there is a Logo with the name of BRAC Bank on that barcode which represents that the owner of the assets is BRAC Bank Limited. Earlier the barcode that are affixing on the fixed asset is purchased from the third party but now BBL has its own barcode printer to print the barcodes. The sample of a barcode is given as followings:
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| ACR0002003
Object des: AC General 2.5 ton Location: Natore Branch
4. Reconciliation of the assets with the asset register book in IFS: We had to tag all the fixed assets of almost 135 locations including Branches, SME Unit Offices, ATM Booths, Apon Shomoy, AB centres, ROC (Regional Operations Center), CRM (Credit Risk Management) of BRAC Bank Limited within two months. After that we had to prepare two Excel Sheets; one is for the tagged assets and the other one is for the untagged assets. Untagged assets were those assets that are completely new or transferred from other locations and had no existence on that particular location in the IFS. After preparing those Excel Sheets with all the update informations regarding the fixed assets then we had to reconcile the fixed assets with the asset register book in IFS software. We also had to enter the serial number as well as the model of the IT equipments (such as monitor, CPU, Laptop, AC, Money counting machine, UPS, Printer, Scanner, Fax machine, ATM machine, Online UPS, Generator etc.) in the IFS. In case of Monitor, CPU and UPS we had to collect the user pin number of the employees who were using those IT equipments.
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Chapter – 04 Project Part
Fixed Asset Management & Disclosure in Financial Statements
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Capital/ Fixed Asset: A long-term tangible or intangible piece of property that a company owns as well as uses in the production of its income which is over TK. 20,000 and the duration of which is more than one year; which will be depreciated over the useful life will be termed as capital/ fixed assets. Fixed assets must be classified in a company's balance sheet as intangible, tangible, or investments. Some examples of BRAC Bank‟s fixed assets are:
Office Equipment Photocopy Machine Furniture & Fixture Vehicle Air Conditioner Generator Printer, Scanner Any other items as per IT Hardware & Software the criteria of Capital/ Construction & Renovation Works Fixed items
Nature of the fixed assets:
The benefits that a business obtains from a fixed asset extend over several years. For example, a company may use the same piece of production machinery for many years. The characteristics of fixed asset are: a) The relevant cost of fixed asset: The cost of a fixed asset includes all amounts incurred to acquire the asset and any amounts that can be directly attributable to bringing the asset into working condition. The costs of repairs that are carried out simply to maintain existing performance will be treated as expenses of the accounting period in which the work is done. Directly attributable costs may include:
Delivery costs Costs associated with acquiring the asset such as stamp duty and import duties Costs of preparing the site for installation of the asset
The cost of subsequent expenditure on a fixed asset will be added to the cost of the asset provided that this expenditure enhances the benefits of the fixed asset.
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b) Useful Life of Fixed Asset:
A business may not wish to keep an asset until the end of its physical life. There may be a point when it becomes unproductive to use the asset even though there is still some physical life left. Most fixed assets suffer physical deterioration through usage and the passage of time. Although care and maintenance may succeed in extending the physical life of an asset but eventually it will reach a condition where the benefits have been obsolete. The economic life of the asset will be determined by such factors as technological progress and changes in demand. For purposes of calculating depreciation, it is the estimated economic life rather than the potential physical life of the fixed asset that is used.
c) Depreciation:
The consumption of a fixed asset is referred to as depreciation. Depreciation involves allocating the cost of the fixed asset over its useful life. A portion of the benefits of the fixed asset will be used up or consumed in each accounting period of its life in order to generate revenue. To calculate profit for a period, it is necessary to match expenses with the revenues according to the matching principles of accounting. Moreover To calculate the depreciation charge for an accounting period the following factors are relevant:
The cost of the fixed asset The estimated useful life of the asset The estimated residual value of the asset
d) Residual Value of Fixed Asset:
At the end of the useful life of a fixed asset the business will dispose of it and any amounts received from the disposal will represent its residual value. This again, may be difficult to estimate in practice. However, an estimate has to be made. The cost of a fixed asset less its estimated residual value represents the total amount to be depreciated over its estimated useful life.
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Objectives of Fixed Asset Management in BRAC Bank Limited (BBL): There are several objectives of managing the fixed asset and those objectives are described in followings:
1. To ensure the assets visibility by physically being the location. 2. To identify and calculate the value of the assets. 3. To match the assets location as well as visibility with the register book. 4. To know the actual financial picture of a particular branch as well as the company.
1. Ensure the assets visibility by physically being the location: Asset management team of BBL has organized different projects on couple of year‟s interval. Usually they recruit intern from different universities to ensure the assets visibility as well as assets fitness. I along with two interns had to go for official tour in around 135 locations in all the divisions of Bangladesh within two months. BRAC Bank provides us financial as well as IT specialist supports in our official tour to ensure the assets visibility by physically being the location. For example- whenever we visited the particular locations we found some assets were missing in Bhola branch, Bogra ROC, Rangpur CRM, Arshin Gate Apon Shomoy. In that situation we had to identify the missing assets from the asset list and report to our supervisor regarding that missing fixed assets. All the locations details is given in the end of the appendix part.
2. Identify & calculate the value of assets: Fixed asset management team calculated each of the particular branch‟s assets individually so that the managers of each individual branch are able to know the exact amount of assets that they have in their branch. After each year when the head office calculated the profit and loss of each individual branches then it is very important to know the accurate fixed asset value of the branch.
For example- if anything happens like a branch is not using a fixed assets but it is seen in the IFS that the fixed assets were entered into that branch which will increase the value of the fixed asset of that particular branch. In that case, whenever the internal auditor prepares profit and loss
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statements as well as balance sheet based on that overstate value of the fixed assets then it will provide inaccurate profit & loss statement as well as balance sheet of that branch.
3. Match the asset’s location with the register book: We had to tag all the fixed assets of almost 135 locations including Branches, SME Unit Offices, ATM Booths, Apon Shomoy, AB centres, ROC (Regional Operations Center), CRM (Credit Risk Management) of BRAC Bank Limited within two months. After that we had to prepare two Excel Sheets; one is for the tagged assets and the other one is for the untagged assets. Untagged assets were those assets that are completely new or transferred from other locations and had no existence on that particular location in the IFS.
For example- first of all we had to match the location then reconcile the fixed assets with the asset register book in IFS software. We also had to enter the serial number as well as the model of the IT equipments (such as monitor, CPU, Laptop, AC, Money counting machine, UPS, Printer, Scanner, Fax machine, ATM machine, Online UPS, Generator etc.) in the IFS. In case of Monitor, CPU and UPS we had to collect the user pin number of the employees who were using those IT equipments.
4. Actual financial picture in financial statements: Assets are very important factor in financial statements. Over valued or under valued of the assets creates inaccurate financial picture of any company. It is very important to know the accurate financial picture of the company because depending on that financial analysis the management of the bank takes many important decisions.
Benefits associated with the management of fixed asset in BRAC Bank Limited: There are many benefits associated with the management of fixed assets in BRAC Bank. Those benefits are described in followings:
1) Managers know about the assets: As the fixed asset management team calculated each of the particular branch‟s assets individually that is why the managers of each individual branch are able to know the exact
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quantity as well as the value of assets that they have in their branches. If there were any mismatching between the assets list and visibility of the asset of a particular branch then we had to inform it to the branch manager. This will increase or decrease the value of the fixed asset of that particular branch. In that case, whenever the internal auditor prepares profit and loss statements as well as balance sheet based on that overstate or understate value of the fixed assets then it will provide inaccurate profit & loss statement as well as balance sheet of that branch.
2) Getting Insurance benefit against fixed asset: As the manager can get the accurate information regarding the value of the assets so he is able to minimize the avoidable risk factor by getting the insurance coverage against the fixed assets. Through this type of project BBL can ensure the quantities as well as the values of the fixed assets for a particular location and also ensure whether the banks provides more insurance premium for getting the insurance coverage against the fixed assets of a particular branch.
3) Calculating the written down value (WDV): Written down value is the value that we get after deducting the depreciation amount from the book value that means the purchase price of the asset. Asset management team is solely responsible to calculate the written down value. They provide all the information regarding the fixed asset within the BRAC Bank Limited. If the written down value of an asset is more than the repair & maintenance cost of that asset and can get farther service from that asset if they repair it then the asset management team decided to do repair and maintenance
4) Branch’s balance sheet: Fixed asset is an item that is placed in the assets part of the balance sheet. So it is very important to know the accurate figure of the fixed asset for the management as well as the stakeholders of BRAC Bank. Through this type of project BRAC Bank Limited ensures that the fixed assets are placed in the proper locations and the quantities as well as the values of the assets are matches with the IFS software. Overstate or understate value of the fixed assets in any branch‟s balance
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sheet is going to misguide the management as well as the stakeholders of the bank and also weigh down the goodwill of the bank.
5) Transfer asset to branches: In case of transferring the assets, asset management team of the BRAC Bank just gives the approval to transfer the assets through an e-mail. As the team is not transferring the assets by physically being the location that is why through this type of project work they can ensure the exact locations of the fixed assets.
6) Revaluation of fixed assets: Revaluation of fixed assets is a process of increasing or decreasing the carrying value of fixed assets to account for major changes in the fair market value of the asset. Financial Accounting Standards (FAS) for fixed assets require fixed assets to be initially recorded at cost model and the revaluation model. In the cost model the fixed assets are carried at their historical cost less accumulates depreciation and accumulated impairment losses. There is no upward adjustment to value due to changing circumstances.
7) New purchase and repair maintenance: Fixed asset management sub unit of BBL recorded all the assets that are being purchased newly as well as make important decisions regarding the repair and maintenance of the existing assets that are being already used in the branches. In case of repair and maintenance of an asset BBL at first inform the asset management department and then the asset management team decides whether this asset should repair or not by calculating that asset‟s written down value. If the asset management team identify that the written down value of an asset is less than the repair and maintenance cost of that asset then the asset management team decided not to do any additional cost like repair& maintenance cost on that asset and send it for auction. If the written down value of an asset is more than the repair & maintenance cost of that asset and can get farther service from that asset if they repair it then the asset management team decided to do repair and maintenance
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Vendor Enlistment Criteria of BRAC Bank:
BRAC Bank Limited (BBL) purchased any kind of fixed assets with the direct supervision of procurement department. The procurement department followed some criteria to enlist a vendor with the bank. Vendor/ suppliers enlistment form is given in the appendix part form no. 1. The bank is looking for the following documents to be enlisted are:
1. Photocopy of “Trade License” 2. Photocopy of VAT Registration certificate 3. Photocopy of TIN certificate 4. Bank solvency certificate/documents such as Balance Sheet, Bank Statement etc. 5. Experience certificate if available 6. Details descriptions of products/services with catalogue/brochures if available 7. Existing Clients list 8. Organization Structure with the names of contact persons with contact details 9. Distribution Networks if available 10. Service Centers Networks if available 11. Manufacturer‟s Authorization Documents (if applicable) 12. Any other relevant documents
Process of Fixed Asset Management in BRAC Bank Limited: Fixed asset management of the BRAC Bank Limited is a sub unit department of finance division where the entire fixed assets are being managed in such a way, so that the company can easily identify the assets location on which the assets are located as well as written down value of the assets any time. The bank has ERP (IFS) Software for managing the fixed asset.
Step-a: For acquisition of new Assets the following steps have been followed in the IFS:
1. Generally anyone can create the MR (Material Requisition) and send it to the department head or delegated person to authorize that MR.
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2. IT Team then justified the MR and send it to the procurement dept. for providing budgetary cost of that MR; after that Payment processing & Compliance team allocates the budget for that MR.
3. Division head then approves the MR and send it to the store team for converting that MR into PR (Procurement Requirement).
4. If it is within the financial limit of the approver, then procurement team creates PO; otherwise the procurement team takes necessary financial approval as per delegation.
5. Procurement team then creates the PO (Purchase Order) & Purchase the Assets according to the procurement policy.
6. After delivering the assets & submitting of the final bill Fixed Asset Team creates object ID in IFS.
7. Store team receives & Issue that object in the IFS and Payment Team pays the final bill.
8. Fixed Asset team activates all new objects that were purchased in last month & charge depreciation in IFS.
Step-b: For Disposal off of the old/unused Asset the following steps have been followed:
1. According to the Auction policy GA&IS (General Administration & Infrastructure Services) /IT takes necessary approval for the auction.
2. GA&IS, Fixed asset and auction committee member should complete the auction and calculate profit or loss on auction based on written down value (WDV).
3. Fixed asset team then disposes off each and every asset based on previously provided list using IFS Sale option.
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Step-c: For charging Depreciation the following steps have been followed in IFS:
1. According to the BBL‟s guidelines ERP team sets the Object group wise depreciation rate in the IFS.
2. Asst. manager of Fixed Asset team Creates depreciation proposal in IFS.
3. Officer of Fixed Asset team Charges depreciation manually and check it with depreciation proposal.
4. Sr. manager of Fixed Asset team Authorized and post depreciation proposal in IFS.
Auction policy: A comprehensive and precise auction policy is required to dispose off the waste/unused/non- repairable assets of the bank. This will enable to reconcile bank‟s assets by exercising transparency at all levels and guide to implement compliance and control issues that are pre- requisite to ensure good corporate governance.
Objectives: The auction policy has been formulated to attain the following objectives. The following objectives are:
1. To set out standard guidelines and procedures for disposing off the waste/ unused/ non-repairable assets of the bank.
2. To incorporate the legitimate method of reconciling the bank‟s properties by preventing unnecessary wastage and financial loss.
3. To set out the systematic approach for assessing, evaluating and identifying the bank‟s properties that to be disposed off.
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Types of Auction: Considering the time, location, situation and properties to be disposed off in two types in BRAC Bank Limited and those are:
1. Spot Auction: Spot auction is to be conducted when the Capital Assets which were purchased less than TK. 50,000 and book value is nil during the time of auction.
If there is a time constrain or possibility of turning into waste or losing the high market value or possibility of incurring additional costs for conducting deliberate auction irrespective of purchase and book value of the assets. For example three are many unused/ waste items/ scrap during the shifting of branches in case of which a deliberate auction is not practicable option.
2. Deliberate Auction: In case of deliberate auction, capital assets which were purchased more than TK. 50,000 and the book value is nil during the time of auction. Here the time and situation is also favorable. However the auction committee will decide upon the types of auction after assessing and evaluating the overall situation and obtaining the prior permission from the management committee.
Approval for Auction:
To obtain the permission for auction, GIS/ Branch/ Unit office will prepare the “Auction Assessment and Approval Form” and get it approved by the management committee. In case of time constrain (may be in case of spot auction), decision of auction may be taken verbally but post-facto approval of the management committee must be sought after the completion of the auction.
The formats of “Auction Assessment and Approval Form” and “Auction Report” form are given in the appendix part form no. 2 &3.
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Responsibilities of Auction Committee:
1. GIS shall initiate the Auction Assessment and Approval form
2. Invitation for bidding is to be requested from different vendors either through newspaper ad or using existing vendor channel of the bank as appropriate
3. Committee will open all quotations in presence of the members of the Auction committee
4. Committee may conduct open bidding or close bidding as decided by the management committee
5. Provisions for receiving security money (amount will be decided by auction committee as per the expected auction value) may be incorporated if deemed necessary in form of cash or pay order from the bidder
6. Generally determine the highest bidder
7. Receive money as cash or cash cheque or pay order in the name of BRAC Bank Ltd. and hand over the auctioned items to the concern bidder or bidders
8. Deposit the cash/ cheque / pay order in near by branch of BRAC Bank Ltd. for credit to appropriate income account of the bank
9. Prepare “Auction report” and forward to Management Committee
10. Hand over the signed copies to respective department for future records of items sold in auction with the sale value to meet future requirement of Tax Authority and internal/ external audits.
Basis of Accounting: The financial statements of the BRAC Bank Limited are prepared on a going concern and accrual bases under historical cost convention and in accordance with Generally Accepted Accounting Principles (GAAP).
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Property, Plant and Equipment (PPR): 1. Recognition The cost of an item of property, plant and equipments (Fixed Assets) shall be recognized as an asset if, and only if it is probable that future economic benefits associated with the item will flow to the entity and the cost of the item can be measured reliably. Property, plant and equipments have been accounted for at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs of enhancement of existing assets are recognized as a separate asset, only when it is probable that future economic benefits associated with the item will flow to the bank and the cost of the item can be measured reliably. All other repairs and maintenance are charge to the profit & Loss account during the financial period in which they are incurred.
2. Depreciation: Land is not depreciated. Depreciation is charged on the items of property, plant and equipment using straight-line method. Depreciation has been charged from the following month of acquisition, whereas no depreciation on the assets disposal off has been charges from the month of disposal. Depreciation on premises other than freehold land and other fixed assets is recognized in profit or loss on a straight line basis over the expected useful economic lives of the assets based on coast, or in the case of assets which have been revalued, on the revalued amount. The estimated useful lives for the current and comparative period are as follows:
Category of Assets Estimated useful life (Years) Buildings 20 Furniture & fittings 5-10 Motor Vehicles 5 Leasehold Improvement 6-7 IT Equipments 4 Office Equipments 5-10
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Depreciation on additions to property, plant & equipment is charged from the month in which such assets are capitalized and adjustments to accumulated depreciation for disposals off are made up to the month in which the relevant assets are disposed off. The rate of depreciation on various classes of property, plant and equipment are as follows:
Asset Category Rates (%)
Building & other constructions 2
Furniture & fixtures 12.5
Office decoration 15
Computers & accessories 25
Air coolers & ceiling fans 20
Telephones, fax & mobiles 20
Electrical & office equipment 20
Cookeries & cutleries 10
Vehicles 20
Software & system 33
3.Sale of Fixed Assets: Sale prize of fixed assets are determined on the basis of the fair value of the assets. Gain or loss on the sales of assets is recognized in profit and loss account according to the provision of ISA 16 property, plant and equipments.
4. Revaluation: The fair value of land and building is usually its market value. This value is determined by appraisal normally undertaken by professionally qualified valuers. The fair value of items of plant and equipment is usually their market value is determined by appraisal. The frequency of revaluation depends upon the movements in the fair value of the items of property, plants and equipment being revalued.
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Increase in the carrying amount as a result of revaluation is credited to Shareholders equity under the heading of revaluation surplus; decrease in the carrying amount as a result of revaluation is recognized as an expense. However, a revaluation decrease is charged directly against any related revaluation surplus to the extent that decrease does not exceed the amount held in the revaluation surplus in respect of those same assets.
4. Impairment: If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the assets should be reduced to its recoverable amount. That reduction is an impairment loss. An impairment loss is recognized as an expense in the income statement.
5. Others: Useful life and method of depreciation of property, plant and equipments are reviewed periodically. As useful lives of assets do not differ significantly as it was previously estimated. Bank management does not consider to revalue its assets by the meantime.As per Bangladesh Accounting Standards (BAS)-17 “lease” all fixed assets taken on lease has been accounted for as finance lease whereas those were being recognized as operating lease in the earlier years.
SWOT Analysis of BRAC Bank Limited (BBL): SWOT analysis is an important tool for evaluating the company‟s Strengths, Weaknesses, Opportunities and Threats. It helps the organization to identify how to evaluate its performance and scan the macro environment, which in turn would help organization to navigate in the turbulent ocean of competition.
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Strength Weakness Company reputation Advertising & promotion Sponsors NGO name (BRAC) Top management Low remuneration Package Facilities & equipments
Interactive corporate culture Impressive branches
Opportunity Threats
Huge untapped sub-urban & Multinational banks rural SME market Up-coming banks International operation Contemporary banks Unsatisfied workforce may transfer to elsewhere
Strength a) Company reputation: BRAC bank has already established a favorable reputation in the banking industry of the country particularly among the new comers. Within a period of 10 years, BBL has already established a firm footing in the banking sector having tremendous growth in the profits and deposits. All these have leaded them to earn a reputation in the banking field. b) Top Management: The top management of the bank is also major strength for the BBL has contributed heavily towards the growth and development of the bank. The top management officials have all worked in reputed banks and their years of banking experience, skills, expertise will continue to contribute towards further expansion of the bank. At BBL, the top management is the driving force and the think tank of the organization where policies are crafted and often cascaded down.
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c) Facilities and equipment: BBL has adequate physical facilities and equipments to provide better services to the customers. The bank has computerized and online banking operations under the software called Finacle banking operations. The bank has also used Entrepreneurship Resource Planning (ERP) software for effective and efficient banking operations. Counting machines in the teller counters have been installed for speedy service ant the cash counters. Computerized statements for the customers as well as for the internal use of the banks are also available. d) Remarkable branches: This creates a positive image in the minds of the potential customers and many people get attracted to the bank. This is also an indirect marketing campaign for the bank for attracting customers. 56 branches of the bank are impressive and are compatible to foreign banks. e) Interactive corporate culture: BBL has an interactive corporate culture. Unlike other local organization, BBL‟s work environment is very friendly, interactive and informal. There are no hidden barriers or boundaries while interacting among the superior or the subordinate. The environment is also lively and since the nature of the banking job itself is monotonous and routine, BBL‟s likely work environment boosts up the spirit and motivation of the employees. f) Team work at mid level and lower level: There are often team works at BBL‟s mid level and lower level management. Many jobs are performed in groups of two or three in order to reduce the burden of the workload and enhance the process of completion of the job. People are eager to help each other and people in general are devoted to work.
Weakness a) Advertising & promotion of SME loan:
This is a major hinder for BBL and one of its weakest areas. BBL‟s advertising and promotional activities are satisfactory but it SME loan is not advertised well. It does not expose its SME
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product to general public and are not in lime light. BBL does not have neon sign or any advertisement for SME loan in the city. As a result people are not aware of the existence of this bank. b) NGO name (BRAC): BRAC is one of the largest NGO of the world and it is operating its activities in Bangladesh. BRAC bank is not a NGO bank but many people of the country consider it as a NGO bank like Grameen Bank which is not correct and they think that as NGO charges too much interest for the loan BRAC Bank also charges more for the loan.
c) Low remuneration package: The remuneration package for the entry and the mid level management is considerably low. The compensation package for BBL entry level positions is even lower than the contemporary banks. Under the existing low payment structure, it will be very difficult to attract and retain higher educated employees in BBL. Specially CRO‟s are not satisfied with compensation package provided to them.
Opportunity: a) Huge untapped sub-urban & rural market: In the developing country like Bangladesh there is a huge untapped sub-urban and rural market to capture and make mutual benefits by including them in the network of SME. To do this the bank has to take some effective and efficient steps to capture the huge untapped sub-urban and rural market. b) International operation: BRAC Bank Limited is one of the largest fast growing private commercial bank in Bangladesh. The bank is also running its operations in Afghanistan. This bank has sufficient potentially to be a multinational bank in near future.
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Threats: a) Multinational banks : The emergence of multinational banks and their rapid expansion poses a potential threat to the new growing private banks. Due to the booming energy sector, more foreign banks are expected to arrive in Bangladesh. Moreover, the already existing foreign banks such as Dutch Bangla Bank and Standard Chartered are now pursuing an aggressive branch expansion strategy. This bank is establishing more branches countrywide and already launched is SME operation. Since the foreign banks have tremendous financial strength, it will pose a threat to local banks. b) Upcoming banks : The upcoming private local banks can also pose a threat to the existing private commercial banks like BBL. It is expected that in the next few years more local private banks may emerge. If that happens the intensity of competition will rise further and banks will have to develop strategies to compete against an on slaughter of foreign banks. c) Contemporary banks : The contemporary banks of BBL such as Dhaka bank, prime bank and Dutch Bangla are its major rivals. Prime bank and other banks are carrying out aggressive campaign to attract curative clients as well as big time depositors. d) Unsatisfied workforce may transfer to elsewhere:
During my internship period at BRAC Bank I had an opportunity to visit almost all branches of 4 divisions like Dhaka, Barisal, Khulna and Rajshahi locations in Bangladesh where there is BRAC Bank. There I have seen that most of the employees of BBL are not satisfied with the basic salary that they are getting from the bank. As a result they have a future plan to leave the bank when they will get enough opportunity. In that case BBL may have a possibility to lose most of the experienced as well as efficient workforce only because of their dissatisfaction.
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Findings:
Throughout my internship period I had an opportunity to observe some unseen things of BRAC Bank Limited (BBL). BRAC Bank is one of the most modern IT supported bank which is updating its IT equipments as well as technology day by day with the flow of modern IT. The lists of the findings are described in followings:
Data Center is the room where all the data has been stored by using the IBM & Dell servers. There is a mini-laptop on each individual server to monitor the activities of the servers. The most surprising thing is that those servers were never stopped for a single second after installing it. There are two generators as well as large size UPS for insuring the uninterruptible power supply in the Data Center and for maintaining a minimum temperature within the data center there are gigantic size floor Air Conditioning systems which absorbed the heat of the IT equipments.
The bank not only uses the modern IT equipments but also uses the modern technology for monitoring as well as maintaining those IT equipments. Whenever a server goes down then it will automatically give indication or signal on the monitor‟s screen as well as the sound systems in the Data Center.
Digester Recovery Center is a center which works in emergency as a back up in running the banking activities very smoothly. If all the server of the data center will remain down then all the banking system is recovered by the back up power of the digester recovery center.
Knowing the procedure of managing the fixed assets, charging depreciation on the fixed assets and disposal off the fixed assets at the end of the economic life in an effective and efficient way.
Enterprise Resource Planning (IFS) is a software that helps the bank to enhance the daily activities more effectively and efficiently. When BRAC Bank purchased an asset then asset management team creates an object ID for that asset save it in the acquisition mode
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in the IFS and in the end of that month asset management team turns the acquisition mode into investment mode. When they turn on the investment mode thereafter the following month the depreciation is automatically calculated on monthly basis in the IFS. It is also very easy to know the written down value of any fixed assets by entering the object ID number of that asset into the IFS without a single error.
Each and every individual vault of the branch is secured by insurance coverage. For running daily banking activities very smoothly each and every individual branch has to maintain a minimum liquid balance in the vault on a daily bases therefore to minimize that avoidable risk associated with the money the bank ensured insurance coverage of the vault.
Recommendations:
Although BBL uses the modern technology as well as equipments to manage the fixed asset very effectively which reduces their number of working errors, but there are some things that need to be improve for the betterment of the bank and those are described in the followings:
Whenever we collected the serial number of the IT equipments then we faced some problems like within the serial number it is very difficult to identify the alphabetic number “O”, “I “with the numeric number “zero” and “one”. We can solve this problem if the bank gives us the challan or the cash memo of those products.
Whenever we worked in the IFS like creating object ID and inputting data into the IFS, we did not do the work without the help of Md. Al-Mamun as we did not get any training on that ERP software named IFS.
BBL can do the fixed asset tagging whenever they send the assets to different locations form the head office. As all the fixed assets are purchased and stored in the head office to
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check the configuration as well as the performance of the products, it is also possible to collect the serial number of the IT equipments.
Asset Management team split off the value of assets in certain situation to match the assets figure as well as depreciation which is very effective in the short run, but in the long run it may create problems.
Conclusion:
BRAC Bank Limited (BBL), the leading private commercial bank in Bangladesh which is one of the strong IT supported bank as the bank updating modern IT equipments as well as technology for providing better banking service to the customers. The bank also continuously works to uphold the “Three P” agenda that means Planet, People and Profit as a part of sustainable and glorious banking journey. The primary objective of BRAC Bank Limited is to provide all kinds of banking services while being the market leader in the Small and Medium Enterprises (SME) business. The management of the Bank believes that this sector of the economy can contribute the most to the rapid generation of employment in Bangladesh. Gradually, BBL is going to expand its banking services in near future by establishing more SME unit office, Branch, CRM, ROC, Apon Shomoy which will ultimately increase the volume of the fixed assets of the bank. It is very essential to manage the assets in a proper way, so that it will affect the Return on Asset ratio (ROA=Net Income/ total Assets) positively which measures the profit per dollar of the assets. If the return on asset is less than it indicates that the company is failed to utilize its assets to generate profit. Considering all the factors, BRAC Bank Limited is managing its fixed assets in an effective and efficient way; therefore it becomes a trustworthy bank among the stakeholders within a very short time.
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Bibliography
JOURNALS
Books, Publications and Journals of BRAC Bank limited
Valuable discussion with the Associate manger & Officers during the period of internship
Prospectus of BRAC Bank Ltd.
Annual Report of BRAC Bank Limited in 2010
Bangladesh Bank related websites
WEBSITES
http://www.bracbank.com
http://en.wikipedia.org/wiki/BRAC_Bank
www.bangladesh-bank.org
http://tutor2u.net/business/accounts/assets_fixedassets_intro.asp
www.scribd.com
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Appendix Part
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MANAGEMENT HIERARCHY OF BRAC BANK LIMITED
Board of director
Chairman
Vice Chairman
Directors
Managing Director
Executives
Senior Executive Vice President
Executive Vice President
Senior Vice President
Vice President
Senior Assistant Vice President
First Assistant Vice President
Assistant Vice President
Officer & Staff
Senior Principal officer
Principal Officer
Senior officer
Probationary officer
Assistant officer/ Assistant cash officer
Appendix Part: 1
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Departments of BRAC Bank Limited Human Resource Department
Financial Administration department
Asset Operations Department
Credit Division
SME divisions
Inter Control and Compliance Department
Impaired Asset Management
Probashi Banking Operations
Treasury Front
Treasury Back
General Infrastructure Services
IT
Customer Service Delivery
Cards Division
Phone Banking
Cash Management
Payment Service
Loan Administration Department
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Appendix Part 2: Departments Name
Finance Division (Organogram)
Financial Controller
Regulatory Financial Payment Asset management GL & cost reporting reporting & processing & & payment cent er Taxation compliance settlement management
1 2 3 4 5
Asset Management & Payment Settlement
Senior manager asset management & payment settlement
Sub unit Asset Management Sub unit Capex Sub unit Opex Sub unit Insurance
Manager/ Asso. Manager/ Asso. Manager/ Asso. Manager/ Asso. Manager asset Manager asset Manager asset Manager asset management & management & management & management & payment payment payment payment settlement (1) settlement (1) settlement (1) settlement (1)
Officer, Asso. Manager Officer, Asso. asset management & Officer, Asso. Manager asset payment settlement (5) Manager asset management & management & payment payment Asso. Manager asset Officer, Asso. Manager settlement (1) management & payment asset management & settlement (2) settlement (1) payment settlement (3)
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Form No: 01
Supplier/vendor Enlistment Form 01. Name of the Company/ Firm: 02. Product/ Service a. b.
03. Mandatory Criteria SL Criteria Remarks 01 Trade License 02 VAT Registration Certificate 03 TIN Certificate
04. Evaluation / Scoring for other Criteria: SL Criteria Provided Remarks 01 Bank Solvency Certificate/Documents 02 Experience Certificate 03 Product / Service range of Categories 04 Existing Clients List 05 Organization Structure 06 Distribution Network 07 Sales & Service Center Network 08 Capability of after sales service 09 Manufactures Authorization Documents/Dealership Certificate 10 Capacity to meet up emergency 11 Overall presentation 12 Bank A/C with BBL
------Prepared by: Procurement
Recommended by Concern Department
------Recommended By Supported By Manager Department Head
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Form No: 02 Auction Assessment and Approval Form
Part-1: To be filled up by GIS/ Branch/ Branch/ Unit Office:
Serial No. Description of Items Quantity Locations/ Dept. Present Condition
------
Manager, GIS/ CSM/ CRO In Charge, GIS, BM, ZO
Part-2: To be filled up by Fin Admin:
Serial No. Description of Items Quantity Locations/ Dept. Present Condition
------
Head of Fin Admin
Part-3: Recommendation by Dept. Head
Part-4: Approval by Management Committee:
------
Executive Vice President Deputy Managing Director Managing Director
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Form No: 03
Auction Report
Part-1: To be filled up by Auction Committee: Serial No. Description of Items Quantity Name of Vendors Bidding Price
Part-2: To be filled up Auction Committee:
Serial No. Description of Items Selected/ Nominated Vendor Highest Bidding Price
Part-3: to be filled up by Auction Committee:
This is to certify that total ------(Amount) ------(in words) has been deposited in Account no. ------In ------Branch of BRAC Bank Ltd on ------(Date) in cash/ Pay order/ Cash Cheque bearing the no. ------Being value of ------sold in Auction to Mr. / Mrs. ------.
Member Member Member President Auction Committee Auction Committee Auction Committee Auction Committee
Part- 4: Certified by Fin Admin:
------
Head of Fin Admin
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Financial Statements: 1
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Financial statements: 2
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Location Details
Branc h & ROC Status Data Sl.No Branches Name BR. Status Tagging Update 01 BHOLA BRANCH BRANCH Done Done CHAPAI N GANJ 02 KRISHI BR SME/KRISHI Done Done 03 PAHARTALI SMESC SMESC Done Done 04 MURADPUR BRANCH BRANCH Done Done NEW MARKET 05 BRANCH BRANCH CTG Done Done LOHAGARA 06 KRISHI BR SME/KRISHI BR Done Done COMILLA 07 KRISHI BR SME/KRISHI BRANCH Done Done 08 TONGI BRANCH BRANCH Done Done NORTH GULSHAN 09 BRANCH BRANCH Done Done DEMRA SME/KRISHI 10 KRISHI BR BRANCH Done Done BEGUM ROKEYA 11 BRANCH SHARANI BR Done Done 12 BONOSREE BRANCH BRANCH Done Done BENAPOLE SME/ 13 KRISHI BR KRISHI BRANCH Done Done JHALOKATHI 14 KRISHI BR SME/KRISHI BR Done Done BARO BAZAR 15 BRANCH BRANCH KHULNA Done Done MANIKGONJ 16 BRANCH BRANCH Done Done MUNSHIGONJ 17 BRANCH BRANCH Done Done BHULTA SME/KRISHI 18 KRISHI BR BRANCH Done Done NITAIGONJ 19 KRISHI BR SME/KRISHI BRANCH Done Done 20 NATORE BRANCH BRANCH Done Done PANCHAGAR 21 KRISHI BR SME/KRISHI BRANCH Done Done 22 SATKHIRA BRANCH BRANCH Done Done 23 BONDOR SMESC SMESC Done Done DAKHSHIN SURMA 24 KRISHI BR SME/KRISHI BRANCH Done Done
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25 TANGAIL BRANCH BRANCH Done Done THAKURGAON 26 KRISHI BR SME/KRISHI BRANCH Done Done Rongpur AB & CRM 27 AB & CRM Center Center Done Done 28 Barishal ROC ROC & CRM Done Done 29 Bogra ROC ROC & CRM Done Done 30 Comilla ROC ROC & CRM Done Done 31 Jessore ROC ROC & CRM Done Done
Head Office & Others Status Location Address Data Sl.No Tagging Update Head Office (MD Sir & 1 Gulshan, Dhaka DMD Sir Floor) Done Done 2 New Data Center Gulshan, Dhaka Done Done BRAC Bank New Call 3 Gulshan, Dhaka Center Done Done
ATM Status SL Location Address Data Tagging No Update 01 Brac Center,Mohakhali Mohakhali Brac Center Done Done 02 MIRPUR H # 13, R # 3, Block A, Section 11, Mirpur, Dhaka. Done Done 03 Korbaniganj Chittagong 36 Korbaniganj Chittagong Done Done 04 BONOSHREE PROJECTS House # 02, Road # 03, Block - D, Project "Bonosree" Estern Housing Limited, Rampura, Dhaka-1219. Done Done 05 NEW AIRPORT New Airport Done Done 06 TONGI BRANCH Nasruddin Sarker Tower, 2-No Mymenshing Road, Tongi (Opposite of BATA Factory with Bondhon Community Center) Done Done 07 Shop No. 01, Islam Plaza, Kadamtali Circle, Kadamtoli Ctg Kadamtali, Chittagong Done Done 08 Mirpur Sangbadik Kolony Holding No. 01, Journalist R/A, Block-F, Section- 11, Mirpur, Pallabi, Dhaka Done Done 09 CHITTAGONG GPO Ground Floor, Chowdhury Tower, 5/6 Shahid Shohorawardi Road, Chittagong Done Done 10 Western Marine Shipyard Ltd. CTG 4 Kolagaon, Union : Patiya, Ctg. Done Done 11 BEANIBAZAR Hajee A sattar Market ( Ist floor) Beani Bazar Sylhet. Done Done
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12 RANGPUR DHAPJAIL Oboshor Vaban, Plot No. 1286, Road No. 01, Dhapjail Road, Rangpur Done Done 13 BANDARTILA CTG Airport Road, 38 South Middle Halishahar, Chittagong Done Done 14 BANANI AB Center Plot No 1 (new Plot 32), Road 11, Block G, Banani, Dhaka Done Done 15 JOINT QUARTER H#1/7, Block-F, Mohammadpur, Joint Quarter (Aziz Moholla) Dhaka-1207 Done Done 16 Holding No. 166 NE (K) 2, Gulshan Avenue, Ward No. 19, Gulshan-2, Dhaka. (Near Bank Al North Gulshan Branch Falah). Done Done 17 ASHKONA BRANCH Ashkona Community Center and Decorator, 567/1 Hazicamp Road, Ashkona, Uttara, Dhaka. Done Done 18 Shop No. 1, 31 Nobab Yousuf Road, Khudro Nayabazar Babsai Somiti Market, Noyabazar, Dhaka. Done Done 19 ICDDRB ICDDR,B Hospital, Mohakhali, Dhaka Done Done 20 Jessore Palbari 163, New Khairtala (Palbari), Jessore-7400 Done Done 21 Muradpur Branch, (1st Floor), Ramna Trade Center, 36/7, CDA Avenue, Muradpur, Muradpur Br. Ctg. Chittagong. Done Done 22 Motijheel Graphics II 9-G Motijheel C/A, Dhaka-1000 Done Done 23 Kalabagan 56, West Panthapath, Lakecircus, Kalabagan. Done Done
ATM Status SL Location Address Data Tagging No Update 24 : Polwell Building, Inner Circular Road, 69/1, Polwell Market ATM Naya Paltan, Dhaka - 1000. Done Done 25 Ground floor, Seagull Hotels Ltd. at Hotel Motel HOTEL SEAGULL Zone, Cox‟s Bazar Done Done 26 17/1, Monipuri Para, Shangsad Avenue (Forhadunnessa Wakfa Estate Mosque Complex), DhakaShangsad Avenue (Forhadunnessa Monipuri para-II Wakfa Estate Mosque Complex), Done Done 27 Nahar Plaza, 323 Siraj-Ud-Daula Road, Siraj-Ud-Daula Road, Ctg. Dawanbazzar, Katwaly, Chittagong Done Done 28 Bagerhat Krishi/SME Sheikh Manssion, Holding No.226, Main Road, Branch ATM Rahater Mor, Bagerhat Done Done
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29 73 Nilambar Shah Road, Hazaribag, PS- Lalbag, NATORE BRANCH District Dhaka Done Done 30 SOUTHEAST UNIVERSITY H# 64, R#18, Block-B, Banani, Dhaka Done Done 31 5 Bangshal Lane, North-South Road, (57 Shohid NORTHSOUTH ROAD Sayed Nazrul Islam Sarani) Dhaka Done Done 32 KALACHANDPUR Ka-12, Baridhara North Road, Kalachandpur, AB.CEN Gulshan, Dhaka Done Done 33 Tangail Tower, H # 541, 541 & 544, Main Road, TANGAIL BRANCH Tangail. Done Done 34 SATKHIRA BRANCH Tufan Cpomplex,Holding No # 01 ,Polashpole, Paurashava - Satkhira, PO & Thana # Satkhira, Satkhira) Done Done 35 Alankar Shopping Complex”, Ground Floor, Shop No. 23/35, CDA Plot No. 68 (Ex) A, and Plot No. Alankar Morr P-07,Fuzdarhat, PS-Pahartoli, Chittagong. Done Done 36 MUNSHIGOANJ Ayub Ali Super Market, Holding No # 545, BRANCH Jomidar Para, Paurashava & Thana - Munshigonj, Munshigonj Done Done 37 THAKURGAON AGRI Nurjahan Plaza, Holding No # 1322, Shahid Mohammad Ali Sarak, PO # Thakurgaon , Paurashava &Than# Thakurgaon Done Done 38 PANCHOGOR AGRI Alo chaya Super Market, Holding No # 644, Paurashava - Panchagarh, PO – Panchagarh, Thana # Panchagarh Done Done 39 ANIK TOWER Anik Tower, 220/B, Tejgoan C/A, Dhaka Done Done 40 BHOLA BRANCH Mahbuba Market, H# 1331-1338, Sadar Road, Bhola Done Done
ATM Status SL Location Address Data Tagging No Update 41 South Surma, Sylhet Branch Jaigirdar Plaza, H#2999, Varthokhola Station Road, South Surma, Sylhet Done Done 42 GF, M A Shahid Plaza, Rampassa Road, Biswanath, Sylhet Bissawnath, Sylhet. Done Done 43 MominROAD-II 100, Momin Road, Chittagong Done Done 44 HR Textile Savar ATM- HR teztile mills Ltd, Savar Pride Factory ATM Savar (Fashion knit garments Ltf). Done Done 45 Usha tower : Usha Trade Center, 204/B Tejgaon I/A, Dhaka Done Done
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46 Ground floor, Sarkar Manssion, WAPDA Road, Plot /Dag no # 551, 552, Village & Post- Chala, Belkuchi Br. Upazila- Belkuchi, District: Sirajgonj Done Done 47 : 454, 455 South Bashabo, P.S-Sabujbag, Dhaka- Central Bashabo-II 1214 (Bashabo Ohab Colony Rehabilitation Area) Done Done 48 : 67/3/B, Golapbag, Bissaw Road, Jatrabari, (Shanta Glass, Near Monwara Hospital & Islamic Golapbag-II University., Done Done 49 Mirpur 10 Circle, Plot # 35 , Block -Kha,Road # 01, Section-06, Mirpur 10, Dhaka Mirpur-10 west-II Done Done 50 Rupnagar Apon : Holding No. 58, Road No. 21, Rupnagar R/A, Somoy Mirpur, Dhaka-1216 Done Done 51 : Commercial Plot No. 13, Main Road-1, Block- Mirpur1- II B, Shop No. 01, Kalwala Para, Mirpur-1, Dhaka Done Done 52 Khulna Borobazar Branch A Hossain Plaza, 4 Sir Iqbal Road, Khulna. Done Done 53 Rupnagar Apon Somoy - : Holding No. 58, Road No. 21, Rupnagar R/A, II Mirpur, Dhaka-1216 Done Done 54 Holding# 67,68, Monohori Potti Road, Jhalokathi Jhalokathi Krishi Branch Pourashava, Jhalokathi. Done Done 55 Kulsum Tower (GF), 40-41 Siddheswari Circular Road,Shantinagar , Dhaka 1217 SHANTINAGAR-II Done Done 56 Anannya Apartment, 2/1 Iqbal Road, IQBAL ROAD Mohammadpur, Dhaka Done Done 57 MUGDA UPDATE : Update Dental, 162 Atis-Diponkar Road, South DENTAL Mugda, Dhaka-1214 Done Done 58 NOYATOLA APON 652/1 Noyatola, Boro Magbazar, Dhaka (Opposite SOMOY RAB-3 Office) Done Done 59 SIPAHIBAG APON Plot No.A/698/4, Khilgoan Rehabilitation Zone, SOMOY Khilgoan, Dhaka Done Done
ATM Status SL Location Address Data Tagging No Update 60 1/1, Khalil Bhaban, North Kamlapur, Motijheel, UTTARA SSSC Dhaka Done Done 61 GULSHAN BRANCH-III H # 59, R # 03 , Plot # 02 , Block-SW(H)-7 , Gulshan , Dhaka Done Done 62 ARONG CENTER TEJGAON :Aarong Center, 346 Tejgaon I/A, Dhaka-1208. Done Done 63 Green Tower (ShopNo-GF-1) 15 East Rampura , RAMPURA BR-II DIT Extention Road Done Done 64 70 Outer Circular Road, Shohid Selina Parvin MOGHBAZAR-II Sharoni, Dhaka Done Done
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65 DEMRA BRANCH Meghna Plaza, Holding#11, Ward-02, jatrabari Done Done 66 Tahera Monjhel, Gulshan Avenue, Gulshan VIRTUAL-3 Done Done 67 Ali Bhaban, 9 DIT Avenue, Motijheel C/A Dhaka MOTIJH.ALI BHABAN-I Done Done 68 :329 Ghatail Main Road, (College Mor), PO- Ghatail Branch Ghatail, Dist.-Tangail Done Done 69 100/A, Shukrabad (Near Nidmahal) Dhaka SUKRABAD-II Done Done 70 Ahmed Plaza, 819, Begum Rokeya Sharani, SHAWRAPARA-II Mirpur, Dhaka. Done Done 71 Shatabdi Bhaban,Plot #19,Main Road, Sanpara MIRPUR-10-II Parbata,,Mirpur-10 Done Done 72 H # 202, Shohoid Syed Nazrul Islam Avenue (New), Old Bijoy Nagar, Dhaka-1000 BIJOYNAGAR-II Done Done 73 Shop#1,Plot#13,Main Road-1,Block-B, Kalwala MIRPUR-2-II para, Mirpur-2 ,Dhaka Done Done 74 Nawab Habibulla High School, Sector#4, UTTARA NH SCHOOL-II Ajampur, Uttara, Dhaka Done Done 75 Begum Rokeya Sarani : Holding# 129, Senpara Parbata, Ward# 14, Branch Mirpur 10, Dhaka. (UPS) Done Done 76 : Plot# 12, Block# C, Main Road, Bonosree, Ward# 22, PO# Khilgaon, Thana# Rampura, Bonosree Branch Dhaka.(UPS) Done Done 77 Terminal Road ATM, : Bismillah Hotel and Restaurent, Terminal Road, Sylhet Pooler Mukh, Sylhet Done Done 78 West Rajabazar Apon Somoy 58/Kha/1 west Razabazar, Tejgaon, Dhaka Done Done 79 H # 82/4, Shop No. 02, Ibrahimpur, EX- Chandrima Community Center, Kafrul, Dhaka- Ibrahimpur Apon Somoy 1216 Done Done 80 Netrokona SSSC ATM Holding no # 422, Teri Bazar, Netrokona Done Done 81 Chapainawabgonj Branch : Asha Super Market, 15, Islampur, ATM Chapainawabgonj Done Done 82 :Swarnamoyee plaza, Opposite of new market, Faridpur SSSC ATM P.S. & S.R. Office- Sadar, Mouja- Faridpur Done Done 83 :Nizaloy, Nasirabad Housing Society, Road No.-4, Nasirabad Society ATM House No.-1, Nasirabad, Chittagong Done Done 84 : Alim Super Market at Holding No: 0209-00, Main Road, Laxmikhola, Muktagacha, Muktagasa SSSC ATM Mymensingh Done Done
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ATM Status SL Location Address Data Tagging No Update 85 RANGPUR SHAPLA Pouroshova Holding No.1, College Road, Shapla MOR Chattar, Rangpur Done Done 86 :5, Karimullahbagh, Demra, Dhaka (Arshin Gate, Arshingate Apon Somoy Postagola, Near Eastern River View Project) Done Done 87 DELTA Medical Center Limited. 26/2, Darussalam Road, Mirpur-1, Dhaka-1216. MIRPUR DELTA-II Done Done 88 : Best Chowdhury Plaza, Busstation (Amirabad), Lohagara Krishi Branch Lohagara, Chittagong. Done Done 89 Chandni Market, 194 Shahid Rafifq Sarak, Manikganj Br. Manikgonj Done Done 90 Mirjajungle, Sylhet ATM House Name-Swapnil, 15 Mirzajangal, Sylhet Done Done
Rupali Bank Co-brand ATM Status ATM Location Address Data Tagging ID Update 1 Rupali Bank, Local Office, 34 Dilkusha C/A, BBL-RBL Dilkusha Dhaka". Done Done 2 Land Mark Shopping center, Plot # 12-14, BBL-RBL GULSHAN-2 Gulshan Circle-2 Done Done 3 BBL-RBL Narayanganj : 32 S.K. road, P.O+Thana+Dis:Narayangonj. Done Done 4 Rupali Sadan, Mirabazar, P.O:-Sylhet, PS-Sadar, BBL-RBL Mira Bazar Sylhet-3100 Done Done 5 BB-RBL RIKABI BAZAR Rikabi Bazar, Sylhet, Sadar, Sylhet3100. Done Done 6 BBL-RBL Rupali Sadan, 220 Laldigi (East side), P.o. Box:214, PS: Sadar, CTG Chittagonj-4000 Done Done 7 BBL-RBL 30/10-A, Dhaka cantonment, PS+P.O:-Dhaka Cantonment,Dhaka cantt., Dhaka-1206 Done Done 8 BBL-RBL Foreign Exchange Corporate Br 9-G, Motijheel C/A, Dhaka-1000 Done Done 9 Hazi Danesh Science & Technology University Branch,Rupali Bank Limited, Police Station: BBL-RBL HAJI DANESH Sadar. Dinajpur - 5200 Done Done 10 Seaone House, 9 Agrabad C/A, P.S# Double BBL-RBL Agrabad br Muring , Chittagong-4000 Done Done 11 BBL-RBL Sadan,cox's bazar Rupali Sadan, P.S& P.O, Dist-Cox's Bazar Done Done
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